PTI economic reform program envisaged creation of a fiscal space of 9 percent of GDP with a 5 percent increase in tax collections, 2 percent reduction in wasteful expenditure and 2 percent reduction in losses of PSE’s. The PTI said that a business as usual is not sustainable, as Pakistan will become the “poor man of the 21 st century” with per capita debt of PKR 145000 per Pakistani. The PTI also identified antiquated governance and all-pervasive corruption and lack of political leadership as the reasons for the long-term decline in the economy.
According to the PTI, the crux of the problem lay in flawed energy policies, spiraling fiscal deficit, grossly inadequate tax to GDP ratio, multiple bailouts by international agencies, under investment in education, health and skills sectors. The PTI reform agenda envisaged driving the Pakistan’s economy on a path to sustainable high growth. The cost of ownership and the product experience that Switch Mobility can deliver is amongst the best in the sector and its ability to bring value to customers like BMTC, combined with the superior technology and innovation, will help the company to serve many more such customers in the future, Babu said.Imran Khan assumed office as the 22 nd Prime Minister of Pakistan on 18 th August 2018. Through the deployment of 300 of our zero tailpipe emission electric buses, Switch will play a central role in reducing carbon in the city of Bengaluru,” said Mahesh Babu, COO of Switch Mobility Ltd. "Switch is delighted to partner with BMTC as we work towards a common goal of sustainability. The buses are expected to reduce fuel consumption by around 5.5 million litres annually, leading to a reduction in carbon emissions by more than 14,500 tonnes per year alongside cost savings for BMTC, Switch Mobility claimed in the release. Passengers on our vehicles can travel in the comfort of knowing that their journey will emit no CO2 to impact the planet,” said Andy Palmer, Executive Vice Chairman and CEO of Switch Mobility Ltd, said. All Switch vehicles are zero-emission, but we set the bar much higher, aiming for net-zero carbon across all of our operations.
"Switch is proud to serve the city of Bengaluru with a new fleet of technologically advanced electric buses. This contract further reinforces the company's vision to be a global technology leader, providing net-zero carbon commercial mobility products and solutions that create outstanding value for all stakeholders, the company said.Īlso Read | Ashok Leyland narrows net loss to Rs 83.6 cr in September quarter Under this model, all revenue collected is for the authority. The fleet and charging infrastructure will be supplied, operated and maintained by Switch for a period of 12 years on a Gross Cost Contract (GCC) Model under the FAME II Scheme, the company said in a release.Ī gross-cost contract pays the operator a specified sum to provide a specified service for a specified period. Commercial vehicle maker Ashok Leyland's EV arm Switch Mobility has bagged a contract for the supply and operation of 300 electric buses for Bengaluru Metropolitan Transport Corporation (BMTC), according to a statement.
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